NVR
ActiveSummary
The computed 12-month bankruptcy probability of NVR is 3.0% (moderate). The 2025 annual accounts show equity of €279k and a net result of €-44k. Equity is growing by ~25.3% per year across the filed fiscal years. Its solvency ranks better than 64% of 1865 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability59▼-14
Solvency77▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
3.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 1.43 in 2024; short-term debt: 46.7% and cash: 16.4% of total assets), and 48.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
29 d late
2022
7 d early
2021
61 d late
2020
66 d late
2019
142 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.02M
EBIT margin
2.8%
Net result
€-44k
2024 · €25k
2018: €11k
2019: €33k▲ +199% vs 2018
2020: €6k▼ -82.4% vs 2019
2021: €35k▲ +501% vs 2020
2022: €70k▲ +101% vs 2021
2023: €76k▲ +7.6% vs 2022highest in 8 years
2024: €25k▼ -66.5% vs 2023
2025: €-44k▼ -273% vs 2024lowest in 8 years
2018 → 2025
Working capital
€177k▲ 7.4%
2024 · €165k
2018: €30klowest in 8 years
2019: €126k▲ +316% vs 2018
2020: €88k▼ -30.2% vs 2019
2021: €45k▼ -48.4% vs 2020
2022: €68k▲ +51.4% vs 2021
2023: €132k▲ +93.1% vs 2022
2024: €165k▲ +24.9% vs 2023
2025: €177k▲ +7.4% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€152k-€222k▲ 46.3%€298k▲ 34.0%€323k▲ 8.5%€279k▼ 13.6%
2021: €152klowest in 5 years
2022: €222k▲ +46.3% vs 2021
2023: €298k▲ +34.0% vs 2022
2024: €323k▲ +8.5% vs 2023highest in 5 years
2025: €279k▼ -13.6% vs 2024
Operating result€49k-€96k▲ 96.8%€112k▲ 16.4%€47k▼ 57.8%€180k▲ 281%
2021: €49k
2022: €96k▲ +96.8% vs 2021
2023: €112k▲ +16.4% vs 2022
2024: €47k▼ -57.8% vs 2023lowest in 5 years
2025: €180k▲ +281% vs 2024highest in 5 years
Net result€35k-€70k▲ 101%€76k▲ 7.6%€25k▼ 66.5%€-44k
2021: €35k
2022: €70k▲ +101% vs 2021
2023: €76k▲ +7.6% vs 2022highest in 5 years
2024: €25k▼ -66.5% vs 2023
2025: €-44k▼ -273% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 281% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €538k
Fixed assets
€109k ▼ 39.8%
Current assets
€429k ▼ 22.4%
Equity and liabilities €538k
Equity
€279k ▼ 13.6%
Debt
€259k ▼ 37.0%
Debt's share of the balance-sheet total falls from 56.0% to 48.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€267k▲
2024 · €141k
Cash flow
€43k▼
2024 · €119k
Current ratio
1.71▲
2024 · 1.43
Debt to equity
0.93▼
2024 · 1.27
ROE
-15.7%▼
2024 · 7.8%
ROA
-8.2%▼
2024 · 3.5%
Interest coverage
63.68▲
2024 · 17.51
Debt ≤ 1 year
€251k▼
2024 · €388k
Debt > 1 year
€7k▼
2024 · €23k
Income taxes
€132▼
2024 · €11k
Staff costs
€491k▲
2024 · €377k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€734k€538k▼
Fixed assets21/28€181k€109k▼
Tangible fixed assets22/27€160k€88k▼
Furniture and vehicles24€82k€53k▼
Leasing and similar rights25€65k€24k▼
Other tangible fixed assets26€13k€11k▼
Financial fixed assets28€21k€21k=
Current assets29/58€553k€429k▼
Amounts receivable within one year40/41€487k€341k▼
Trade receivables40€474k€261k▼
Other amounts receivable41€13k€80k▲
Cash at bank and in hand54/58€61k€88k▲
Deferred charges and accrued income490/1€5k-
Equity and liabilities
Total equity and liabilities10/49€734k€538k▼
Equity10/15€323k€279k▼
Contributions10/11€12k€12k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€310k€266k▼
Amounts payable17/49€411k€259k▼
Amounts payable after more than one year17€23k€7k▼
Financial debts170/4€23k€7k▼
Amounts payable within one year42/48€388k€251k▼
Current portion of amounts payable after more than one year42€62k€17k▼
Trade debts44€186k€90k▼
Suppliers440/4€186k€90k▼
Taxes, remuneration and social security45€110k€114k▲
Taxes450/3€57k€45k▼
Remuneration and social security454/9€53k€68k▲
Other amounts payable47/48€30k€31k▲
Accrued charges and deferred income492/3-€600
Income statement
Code20242025
Remuneration, social security and pensions62€377k€491k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€87k▼
Other operating charges640/8€11k€19k▲
Gross operating margin9900€529k€777k▲
Operating profit (loss)9901€47k€180k▲
Financial income75/76B€566€4▼
Recurring financial income75€566€4▼
Financial charges65/66B€12k€224k▲
Recurring financial charges65€8k€4k▼
Non-recurring financial charges66B€4k€220k▲
Profit (loss) for the period before taxes9903€36k€-44k▼
Income taxes67/77€11k€132▼
Profit (loss) for the period9904€25k€-44k▼
Profit (loss) for the period to be appropriated9905€25k€-44k▼
Appropriation of the result
Profit (loss) to be appropriated9906€310k€266k▼
Profit (loss) brought forward from the previous period14P€284k€310k▲
Social balance
Average headcount (FTE)90879.911.8▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €422k | €363k | €490k | €377k | €491k | ▲ 30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61k | €72k | €78k | €94k | €87k | ▼ 7.4% |
| Other operating charges640/8 | €5k | €7k | €27k | €11k | €19k | ▲ 70.1% |
| Gross operating margin9900 | €538k | €538k | €707k | €529k | €777k | ▲ 46.8% |
| Operating profit (loss)9901 | €49k | €96k | €112k | €47k | €180k | ▲ 281% |
| Financial income75/76B | €17 | €10 | €50 | €566 | €4 | ▼ 99.2% |
| Recurring financial income75 | €17 | €10 | €50 | €566 | €4 | ▼ 99.2% |
| Financial charges65/66B | €7k | €20k | €8k | €12k | €224k | ▲ 1,807% |
| Recurring financial charges65 | €7k | €9k | €8k | €8k | €4k | ▼ 48.0% |
| Non-recurring financial charges66B | - | €10k | - | €4k | €220k | ▲ 5,882% |
| Profit (loss) for the period before taxes9903 | €42k | €77k | €104k | €36k | €-44k | ▼ 221% |
| Income taxes67/77 | €7k | €6k | €28k | €11k | €132 | ▼ 98.8% |
| Profit (loss) for the period9904 | €35k | €70k | €76k | €25k | €-44k | ▼ 273% |
| Profit (loss) for the period to be appropriated9905 | €35k | €70k | €76k | €25k | €-44k | ▼ 273% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €595k | €562k | €691k | €734k | €538k | ▼ 26.7% |
| Fixed assets21/28 | €309k | €269k | €238k | €181k | €109k | ▼ 39.8% |
| Tangible fixed assets22/27 | €286k | €245k | €219k | €160k | €88k | ▼ 45.0% |
| Plant, machinery and equipment23 | €600 | - | - | - | - | - |
| Furniture and vehicles24 | €73k | €79k | €98k | €82k | €53k | ▼ 35.4% |
| Leasing and similar rights25 | €197k | €153k | €109k | €65k | €24k | ▼ 63.2% |
| Other tangible fixed assets26 | €15k | €13k | €11k | €13k | €11k | ▼ 14.4% |
| Financial fixed assets28 | €23k | €23k | €20k | €21k | €21k | = |
| Current assets29/58 | €286k | €294k | €452k | €553k | €429k | ▼ 22.4% |
| Amounts receivable within one year40/41 | €224k | €258k | €418k | €487k | €341k | ▼ 30.1% |
| Trade receivables40 | €214k | €248k | €417k | €474k | €261k | ▼ 45.0% |
| Other amounts receivable41 | €10k | €10k | €1k | €13k | €80k | ▲ 530% |
| Cash at bank and in hand54/58 | €61k | €36k | €34k | €61k | €88k | ▲ 45.0% |
| Deferred charges and accrued income490/1 | €455 | - | - | €5k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €595k | €562k | €691k | €734k | €538k | ▼ 26.7% |
| Equity10/15 | €152k | €222k | €298k | €323k | €279k | ▼ 13.6% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Capital10 | €12k | €12k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Uncalled capital101 | €7k | €7k | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €138k | €209k | €284k | €310k | €266k | ▼ 14.2% |
| Amounts payable17/49 | €443k | €340k | €393k | €411k | €259k | ▼ 37.0% |
| Amounts payable after more than one year17 | €202k | €115k | €73k | €23k | €7k | ▼ 71.5% |
| Financial debts170/4 | €202k | €115k | €73k | €23k | €7k | ▼ 71.5% |
| Amounts payable within one year42/48 | €241k | €225k | €320k | €388k | €251k | ▼ 35.1% |
| Current portion of amounts payable after more than one year42 | €100k | €89k | €91k | €62k | €17k | ▼ 73.1% |
| Trade debts44 | €29k | €24k | €118k | €186k | €90k | ▼ 51.9% |
| Suppliers440/4 | €29k | €24k | €118k | €186k | €90k | ▼ 51.9% |
| Taxes, remuneration and social security45 | €93k | €91k | €111k | €110k | €114k | ▲ 3.2% |
| Taxes450/3 | €45k | €47k | €47k | €57k | €45k | ▼ 20.3% |
| Remuneration and social security454/9 | €48k | €44k | €64k | €53k | €68k | ▲ 28.4% |
| Other amounts payable47/48 | €18k | €21k | - | €30k | €31k | ▲ 6.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €600 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €70k | €76k | €25k | €-44k | ▼ 273% |
| + Depreciation and write-downs630 | €61k | €72k | €78k | €94k | €87k | ▼ 7.4% |
| Operating cash flow (approximation) | €96k | €143k | €154k | €119k | €43k | ▼ 63.8% |
| Investment in fixed assets (approximation) | - | €-32k | €-48k | €-37k | €-15k | ▲ 59.3% |
| Change in cash | - | €-26k | €-2k | €27k | €27k | ▲ 1.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-44k
Net result drops to €-44k, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €76k ▲7.6%
Net result €76k, the highest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €200kEq €222k ▲46.3%
5 profitable years in a row build equity to €222k.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
31-12
Financial
Equity above €150kEq €152k ▲29.8%
4 profitable years in a row build equity to €152k.
05-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 66 days late
2020
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 142 days late
2019
31-12
Financial
Equity above €100kEq €111k ▲42.1%
2 profitable years in a row build equity to €111k.
Show earlier events
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 9 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 13 days late
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 8 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 2 establishment units since 2022
Ground area
10.4 ha
Building footprint
5.5 ha
Volume, LiDAR
494,681 m³
2 parcels, Brussels, Wallonia · tallest building 16.8 m, ±3 floors. Linked by address, not a title deed.
47
companies at this address
See who is registered here
2 establishment units
NVR
since 20222.337.548.956
NVR
since 20242.359.827.084
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52063F0088/00N000 | Wallonia | 10.0 ha | 1 · 5.3 ha | 16.6 m · 3 fl. |
| 21821C0148/00P000 | Brussels | 3,627 m² | 1 · 2,163 m² | 16.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 5,912 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-11-2011
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.